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25th July 2020, The truth is not always out there
It’s Easier to Fool People Than to Convince Them That They Have Been Fooled - by Mark Twain ?
It’s Easier to Fool People Than to Convince Them That They Have Been Fooled - by Mark Twain ?
The invention and quick acceptance of the internet increase the efficiency dramatically, including lies and frauds. The truth is not always out there.
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22th July 2020, Shift works in growing industry
The chief economist of IMF said in a recent press conference that "policy support will need to shift towards encouraging a return to work and facilitating a reallocation of workers from sectors that are shrinking to those that are growing."
But the issue is there is a steep learning curve for many industries' employees, such as energy and transportation, jump into sectors such as IT or pharmaceutical industries. I agree with the point of keep learning during this time and do not waste it. But it might take a while and need strong support and acumen of the local government.
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https://www.imf.org/en/Publications/WEO/Issues/2020/06/24/WEOUpdateJune2020
21th July 2020, IMF June GDP projection
LinkedIn Post on 21 July 2020.pdfIt's time to prepare a budget for the next year in some companies. The revision of the 2020 World Economic Outlook (WEO) from the IMF pointed out that there is a significant economic contraction in 2020. Most of the advanced economies will bounce back to around 95% of 2019 GDP in 2021, and emerging markets in Asia will recover from the recession in 2021 and reach 6.5% net growth from the base of 2019 GDP.
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https://blogs.imf.org/2020/06/24/reopening-from-the-great-lockdown-uneven-and-uncertain-recovery/
19th July 2020, Energy transition
The investment of energy transition (CO2 emission reduction) in East Asia is more than the total investment in North America and EU-28 combined. This global vast annual demand of 2.8 trillion U.S. dollars investment, almost the same size as the U.K. Nominal GDP in 2019, is crucial to reach the target of the Paris agreement. The pandemic has impacted on the short term implementation, but it should not be the excuse for missing the long-run target.
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Seminar - COVID-19 and Renewables - Impact on the energy system, IRENA
14th July 2020, Philanthropic responsibilities
When the energy, transportation, and tourist industries have to step down on the corporate philanthropic responsibilities during the pandemic, will we see more leaders from the industries "benefit" from COVID willing to take the responsibilities?
Questions will be asked by stakeholders, and businesses will be punished if they did not respond responsibly.
https://www.kcl.ac.uk/news/covid-19-poses-new-challenges-corporate-social-responsibility-efforts
9th July 2020, Covid-19: what will happen to the global economy?
Some interesting content from The economist's editors answering questions related to the impact of COVID-19: • Will the economic shock caused by imposing lockdowns prove more costly than the pandemic itself?Advanced economies can withstand more losses on lockdown.
• How could an economic recession shift the global balance of power?The US doesn't show its leadership during the pandemic. The attitude to respond to the global event is changing.
• Will this be a change for China to become the global financial hut?China doesn't have a convertible currency yet, and then Yuan can not threaten the dominants position of the US dollar in the short run.
• Which countries are most economically vulnerable to the effects of COVID-19, and why?Industries that rely heavily on tourist and Labor-intensive industries. Emerging economies with high debt and low borrowing capability to trigger financial stress.
• What will the impact on the jobs market be for those graduating in 2020?Immediate impact: Less offers and more offers withdrawal; Pandemic makes a profound impact on the job market in the long run, and many areas of the economy won't go back to the level of output that they had before.
• Has the pandemic made globalization look like a liability?No. Companies should reconsider diversifying their supply chains. Globalization makes vaccines and medicines development and distribution work efficiently.
Source:Covid-19: what will happen to the global economy? | The Economist
• How could an economic recession shift the global balance of power?The US doesn't show its leadership during the pandemic. The attitude to respond to the global event is changing.
• Will this be a change for China to become the global financial hut?China doesn't have a convertible currency yet, and then Yuan can not threaten the dominants position of the US dollar in the short run.
• Which countries are most economically vulnerable to the effects of COVID-19, and why?Industries that rely heavily on tourist and Labor-intensive industries. Emerging economies with high debt and low borrowing capability to trigger financial stress.
• What will the impact on the jobs market be for those graduating in 2020?Immediate impact: Less offers and more offers withdrawal; Pandemic makes a profound impact on the job market in the long run, and many areas of the economy won't go back to the level of output that they had before.
• Has the pandemic made globalization look like a liability?No. Companies should reconsider diversifying their supply chains. Globalization makes vaccines and medicines development and distribution work efficiently.
Source:Covid-19: what will happen to the global economy? | The Economist
6th July 2020, Covid-19: Michael Porter's legendary competitive strategy
Michael Porter's Competitive strategy still fits in the current business contextual environment after his article "How competitive forces shape strategy" issued by Harvard Business Review 40years ago.
We should always look back and ask questions, do we have a clear competitive strategy, or does the strategy stuck in the middle? Since many marketers and strategy makers are sinking in the daily routine works, and applying the new digital approaches. But one "benefit" from the digital approach is "the ability to fail faster, at a low cost." Shall we take a halt and think about the clarity of strategy before moving forward?
I share this short clip from HBS that Michael Porter was giving a lecture about competitive strategy in 1988. (What are the best movies in 1988? Rain Man and Die Hard 1). I am hoping it helps the strategy makers take a break at lunchtime, and look back at the clarity of your strategy since the current contextual environment has changed significantly in the past six months.
The following video clip is only part of Porter's lecture on Competitive Strategy.
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